Economist: Load shedding will undo gains made in first quarter
Economist Dawie Roodt says the ongoing load shedding could undo all the
economic gains made in the first quarter of the year.
Figures released on Tuesday show the country's economy grew by 1.1 percent between January and March.
It's an annualised growth rate of 4.6 percent.
READ: Rolling blackouts to continue until Sunday
Roodt says the data exceeded expectations, even though the economy is still smaller compared to the same period last year.
"With the current trend, it's quite possible the economy will expand its rate between four and five percent for 2021.
“But once all these volatilities has been worked out of the system, I think economic growth will return to more realistic levels and I expect economic growth to stabilise rather about 1.5 or 2% over time."
